Panacea extends distribution pact with Canadian firm for US

Drug firm Panacea Biotec today said it has expanded its existing collaboration with Canada's Apotex Inc for sales and distribution of Prasugrel tablets in the US.
"Panacea Biotec has expanded its existing collaboration with Apotex Inc, the largest Canadian-owned pharmaceutical company, for sales and distribution of Prasugrel 5mg and 10mg tablets (generic version of Eli Lilly's Effient) in the US," the company said in a BSE filing.
It further said: "The company has signed an exclusive licence and supply agreement with Apotex for this purpose. Under the terms of the agreement, Apotex shall be responsible for sales and distribution of the product in the USA and the company shall be responsible for manufacturing and supply".

Panacea Biotec said Prasugrel currently has annual sales of USD 600 million in the US and is indicated for reduction of thrombotic cardio vadcular events in people with acute coronary syndrome.
Panacea Biotec and Apotex are working on the two drug delivery technology based anti cancer generic products.
Shares of Panacea Biotec were trading at Rs 243.80 on the BSE, up 10.99 per cent, on the BSE.